How's everyone paying off their balance?

[Wazzo]

The BMO Air Miles card has a non fee option but you only get 1 AM/$40. I'm use to collecting 1 AM/$15 so I'd probably be shocked by my "missing" AM

Is this a no-fee US Dollar card??

I've only found the follow US Dollar cards:

RBC Gold card - $65 USD fee, $30 USD for co-applicant, 19.5% interest
TD - $25 USD fee, up to 3 free co-applicant cards, 19.75% interest
CIBC - $35 USD fee, up to 2 free co-applicant cards, 18.5% interest

I'm sure there are other benefits to compare, but I'm mostly interested in the yearly fees too!

 

[Wazzo]

Has anybody used this CAA Travel Card instead of TCs?

http://www.caasco.com/travel/travel_store/travelmoney.jsp

I'm not really sure how it works... you load it with CDN funds and then it says you can access local currency - but do they charge a fee too to exchange it??

 

[dhluvsDisney]

Has anybody used this CAA Travel Card instead of TCs?

http://www.caasco.com/travel/travel_store/travelmoney.jsp

I'm not really sure how it works... you load it with CDN funds and then it says you can access local currency - but do they charge a fee too to exchange it??

Yeah, my son has, and while my credit card got charges 1.14. on a shopping trip to Grand Forks, ND, my son was charged an exchange rate of 1.18 at the same time with his CAA visa money card (which he has to prepay). I would never do that again. The fee for foreign exchange was much higher than the visa card.

 

[Wazzo]

Yeah, my son has, and while my credit card got charges 1.14. on a shopping trip to Grand Forks, ND, my son was charged an exchange rate of 1.18 at the same time with his CAA visa money card (which he has to prepay). I would never do that again. The fee for foreign exchange was much higher than the visa card.

Thank you for the info!!

This card certainly doesn't seem like a better option than paper TCs when you have to pay an exchange rate each time!

 

[bunnyfoo]

Is this a no-fee US Dollar card??

I've only found the follow US Dollar cards:

RBC Gold card - $65 USD fee, $30 USD for co-applicant, 19.5% interest
TD - $25 USD fee, up to 3 free co-applicant cards, 19.75% interest
CIBC - $35 USD fee, up to 2 free co-applicant cards, 18.5% interest

I'm sure there are other benefits to compare, but I'm mostly interested in the yearly fees too!

I found out about the card when I went into the BMO branch to pay a bill. I didn't see it on their website. I think someone here has the US$ AM card... tone.def maybe, I can't remember.

 

[daver]

The way I look at it..... I paid the 2.5% last year , now the dollar is like 8-10 cents higher, so I am saving money no matter how you look at it. I am using westjet gold again this year... I'll get over 200 airmiles for that. That will bring my a/m balance to over 7000..... enough for all 5 of us to go to any westjet destination.. woohoo!

 

[Pirate Dad]

The way I look at it..... I paid the 2.5% last year , now the dollar is like 8-10 cents higher, so I am saving money no matter how you look at it. I am using westjet gold again this year... I'll get over 200 airmiles for that. That will bring my a/m balance to over 7000..... enough for all 5 of us to go to any westjet destination.. woohoo!

Perhaps another trip to Disney next year?

 

[daver]

Perhaps another trip to Disney next year?

Me thinks not.... I had to do some wheeling and dealing to get this year.... next year we plan to drive from Halifax to Niagara Falls, then across the border and back from New York to Halifax. Many stops, towing a hardtop ... about a two week adventure. It'll be great but Disney wont be in the picture next year.
Maybe in 2009 if I bring back some pixie dust and pray

 

[pta-mom]

I use my credit card to pay off everything. The 2.5% doesn't make enough of a difference to me. Plus I figure I get points, Air Miles etc. which I use towards my next trip anyway.

Exactly! Me too!

 

[pooksma]

Even though I don't get AIrMiles, I still used the CC. Paid the final balance yesterday!!!!!!! WOOHOOO! Waiting now to see if we can get P&P tickstes.

 

[Albertan mom]

I didn't realize that the CC companies charged 2.5%.

I just got our cc statement for our airline tickets, and our $325 tickets cost us $373.22 U.S!

With exchange it should have been around $344. So that is an extra $30 a ticket, so $120 extra! Yuck!

I just called all my credit card companies, and they all do charge 2.5%.
I don't like paying that extra money, but it seems like it is going to be the easiest way to do it.
At least I will get some airmiles with it.

Other trips we have always just charged everything to the credit cards and not known we were being charged fees.
Now I will be buying more Travellers Cheques!

But--what is the rate on buying those, anyone know?
Or getting straight cash?

 

[rewok]

BTW, 2.5% on 325$ should be only 8$, really not as bad. Usually on your CC statement you have both the original amount in USD, and the converted amount in CAD. You can divide one by the other to work out the rate you were charged. This rate includes a 2.5%, meaning, in you case 373.22/325, charged rate of 1.1476, and "real" rate is 1.1227. A bit high for now, but your tickets were probably bought a month ago, when that was the going rate.

Oh, banks charge an added exchange rate fee for Travellers Cheques and money as well. It is around the same as credit cards. There is really only very few ways to go around this (having a US account and credit card namely).

 

[NikP]

I found out about the card when I went into the BMO branch to pay a bill. I didn't see it on their website. I think someone here has the US$ AM card... tone.def maybe, I can't remember.

I have the BMO US$ Mastercard. I chose the $35 dollar annual fee in order to collect more airmiles this year. I will be charging my trip balances for our trip and my parents. So $5000 @ 2.5% = $125 is what the bank would have taken form me with my Canadian CC, so I thought $35 US is not a bad deal. Next year I will remove the annual fee and drop the airmiles because we will not be using the card that much.

The card is just like the other US$ cards offered at other banks. You are charged all fees in US$ and must pay balances in US$. I have the bank teller transfer money from my US account to pay my Mastercard. I keep my US account and buy money when the dollar is good. My Husband also likes this card, because when I go shoppping in the US I am not carrying around a lot of cash.

 

[Stitch'sCousin]

We do the same thing as NikP. Our BMO $US mastercard has the no fee option and not paying the extra 2.5% on our regular card saved us over $100 (or as we look at it - 2 "free" Pirate/Princess party tickets courtesy of BMO )

 

[tlens]

We're not going again until Nov. 08 and am waiting for CAA discounts to come out for next year. Because of the strong $$, we are able to afford the Poly for part of our stay!!! WOOHOO. It's been 15 years (honeymoon).

ANyway our trip consists of 2 nights at the Poly (plan to pay both nights off before Christmas 2007), 4 nights Wonder (paying off $100/month) and 3 nights WL with dining. I hope to have most of the WL paid off before we go.

I don't worry about the 2% as last time we cruised Disney we paid 60 cents on the dollar. An extra 2% means nothing at this point.

 

[Wazzo]

I have the bank teller transfer money from my US account to pay my Mastercard. I keep my US account and buy money when the dollar is good.

I can't seem to find any low-fee US bank accounts... do you recommend a certain one?

(I'm too used to no-fee banking from PC... I LOVE it! )

 

[NikP]

I can't seem to find any low-fee US bank accounts... do you recommend a certain one?

(I'm too used to no-fee banking from PC... I LOVE it! )

I do the majority of my banking at BMO, so I pay a set fee for all my accounts. I have 5, and I think the service charge is $11 per month. This charge is based on my chequing savings account, and they just throw in the other accounts for free. I also have a US$ account at CIBC because their exchange rate always seems to be a little better. They only charge a service charge of $0.50 per withdrawl. I basically keep enough money at CIBC so I can buy my US there. I just buy it there and walk two doors down and deposit it into my US$ account at BMO. I know I will have to give them notice when I plan to move the majority of my funds. I am trying to get away with only playing the 0.50 service charge once for my up coming trip.

I am not sure about TD. I hear that their exchange rates are the best. I don't know what the fees are for their accounts. I know there must be many DISers that use them.

Good luck finding a account that suits your needs.

 

[calliemom]

We put cash in a jam jar ever month...by the time our trip arrives we have enough for our hotel and expenses. We simply apply the funds directly to our cc before we travel and we can then spend "guilt free".